Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Money managers’ bullish wagers on gold fell to the lowest in nearly four months before a flare-up in the Russia-Ukraine war boosted its haven appeal.
Hedge funds and other large speculators reduced net-long positions by 3.6% to 190,324 contracts as of Nov. 19, the lowest in 15 weeks, weekly US government data showed on Friday.
The precious metal was under pressure in the weeks following the re-election of Donald Trump as the US dollar surged, weighing on commodities. Gold has since recouped those losses amid rising geopolitical tensions.
(By Yvonne Yue Li)
Read More: Gold price set for biggest weekly jump in 20 months on haven demand
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